Sebi's Warning: Strata SM REIT No Longer Regulated

Sebi has cautioned investors against Strata Small and Medium Real Estate Investment Trust (SM REIT), as it is no longer a regulated entity. Strata has surrendered its registration. The regulator advises caution, noting Strata hasn't launched or migrated any SM REIT schemes.

The Securities and Exchange Board of India (Sebi) issued a warning to investors on Wednesday, advising them against engaging with Strata Small and Medium Real Estate Investment Trust (SM REIT). The regulator clarified that Strata SM REIT is no longer a regulated intermediary.

The announcement follows Sebi's review of legal proceedings involving the promoter of the Sebi-registered SM REIT. During its investigation, Sebi engaged with Strata SM REIT's independent director, compliance and other officers, as well as the trustee.

As a result of these discussions, Strata SM REIT surrendered its certificate of registration and will not present itself as a Sebi-regulated entity. Investors are urged to exercise caution, as no SM REIT schemes have been launched or migrated under this entity.

(With inputs from agencies.)